Elon Musk made a move to consolidate his business empire as Tesla announced an offer to buy SolarCity for around $2.8 billion. Musk is the Chairman of SolarCity, CEO of Tesla, and the largest shareholder of both companies. Musk and Antonio Gracias, who is also on the board of directors at both companies, recused themselves from voting on this proposal…. Read more »
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Tesla resumes sales of 60 kWh Model S
Tesla will resume selling a lower-priced 60 kWh version of the Model S, less than a year after it discontinued that version and made a pricier 70-kwh model the entry-level option. The new entry-level S 60 is priced beginning at $66,000. An all-wheel-drive version, the S 60D, starts at $71,000. Both deliver over 200 miles… Read more »
May plug-in sales flat: Tesla, Chevy, Ford on top
US plug-in sales slowed a tad in May, ending a six-month streak of consecutive monthly records. 11,423 EVs and PHEVs changed hands, just short of the 11,540 that moved in May 2015. The Chevy Volt held onto its lead for the month, as sales of 1,901 units bested the May 2015 figure of 1,618. The… Read more »
Tesla Model 3: What we know and what we don’t know
Tesla made automotive history on March 31, when it unveiled the culmination of its master plan to bring EVs to the masses. The company has committed to delivering a car with the parameters that pundits have identified as the tipping point for widespread EV sales: 200 miles of range and a price tag in the… Read more »
Tesla tests Autopilot features with secret updates
Along with electrification, autonomy and connectivity are part of a triple trend that is revolutionizing the transport sector. At least one automaker understands how closely the latter two are connected – data delivered wirelessly from Tesla vehicles helps the company to improve its Autopilot technology, as Elon Musk recently explained. “The ability to pull high-resolution… Read more »
Elon Musk: Supercharging will not be free for Tesla Model 3 owners
Elon Musk and JB Straubel held forth for over three hours at Tesla’s 2016 annual shareholder meeting. They recapped the history of the company, and discussed its ambitious plans for the future, before taking questions from the audience. Mr. Musk answered what is probably the most pressing question among the legions of future Model 3… Read more »
Investors snap up $1.7 billion worth of new Tesla stock
Tesla will need a big pot of new capital to get the Model 3 production line up and running. The company opted to raise a few bucks in a new equity offering, which turned out to be a big success. The underwriters, led by Morgan Stanley and Goldman Sachs, exercised their options to buy as… Read more »
How Tesla plans to meet its unprecedented new production schedule
“Definitely going to need to rethink production planning,” tweeted Elon Musk when he learned of the explosive demand for his latest creation. Seldom has such a short sentence been so freighted with risk, opportunity…and a whole lot of hard work. Ramping up annual production by a factor of ten will be a major challenge, one… Read more »
Tesla reportedly approaches LG, Samsung and SK for Model 3 batteries
Japanese giant Panasonic is currently Tesla’s exclusive battery partner, but as its battery needs balloon along with demand for the upcoming Model 3, it’s only logical that the California company should keep its options open with other suppliers. The Korea Times reported that Tesla has approached LG Chem, Samsung SDI and SK Innovation. Tesla executives… Read more »
Tesla Motors hires Audi manufacturing exec
Following the departure of two top manufacturing executives, Tesla Motors has hired Peter Hochholdinger, a 22-year veteran of Audi who oversaw the production of the company’s A4, A5 and Q5 models. Mr. Hochholdinger was also involved in bringing Audi’s new Mexican production facility online. Hochholdinger will be Tesla’s new VP of Vehicle Production, replacing Greg… Read more »